Part 10: Creating your own text Task 18: Write an introduction.


Below is a series of notes taken by a student in a lecture. The students have to write an essay on the following subject: ‘Is the IMF a force for good for all countries?’ Write a suitable introduction to this essay below.


Note: There is no ‘right’ answer to this. However, a sample answer is available on page 60.


IMF – International Monetary Fund – Group of 188 countries – Founded in 1945 – Aim is to try to ensure global economic stability


IMF advantages: – promotes international monetary cooperation and financial stability


– provides money to poor countries for redevelopment – can help with funding infrastructure projects (e.g., ports, airports, roads)


– gives financial advice to countries about how to run their economies


– stops countries from going bankrupt


Problems with IMF: – can be seen as ‘Americanization’ – makes changes to countries’ economies which may not be appropriate – can lead to extreme poverty in some cases


– “one size fits all” approach may not be relevant for some countries


“The world is governed by institutions that are not democratic – the World Bank, the IMF, the WTO.” (Jose Saramago)


“I have full confidence in the IMF. It is a very strong international institution.” (Jose Manuel Barroso)


At present – around $330 billion is available to borrow


58


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